- Posted January 9, 2012 by
Demand for chrome ore, coal, iron ore and ferrochrome to remain strong in 2012
Global demand and prices for raw materials, iron ore, chrome ore, coal and ferrochrome for making steel is likely to continue to increase.
The Chinese steel industry has a record steel output in 2011 to meet soaring demand from infrastructure and social housing projects.
Strong economic growth and urbanization in China, India and other nations are expected to create growing demand for steel in 2012 .
Albanian Minerals expect steel demand to grow worldwide by 7 per cent in 2011 and about 10 per cent in 2013.
Chinese steel industry now counts for almost 50 percent of global steel production. China's crude steel production reached near 700 million tons in 2011
China's Steel exports rose 16% to 50 million tons in 2011.
Albanian Minerals CEO Sahit Muja said "The chrome ore and ferrochrome prices to incriase do to strong demand and problems with export ban and the high costs of production".
Also chrome ore shortage is expected as Zimbabwe has banned the export of chrome ore.
The winter conditions allow mining of chromite to be conducted only from May to November in open pit mining this will effect the global chrome ore production.
The concerned over the depleting reserves of chrome ore in India the steel ministry has demanded a complete ban on chrome ore exports.
Such supply condition may drive up prices of ferrochrome and chrome ore in 2012.
Ferrochrome production for metallurgical applications uses up more than 90% of the worlds chrome ore.
South Africa accounts for about 50% of global chrome ore production, followed by Kazakhstan, India, Turkey ,Albania and Zimbabwe .
Albanian Minerals CEO Sahit Muja said "Demand for chrome ore, iron ore and ferrochrome is expected to remain strong in 2012 mainly due to the continued growth of steel industry".
Albanian Minerals and Bytyci SHPK is emerging as one of the major European suppliers of chrome ore to the global markets.
Albanian Minerals & Bytyci SHPK